Statutory Compliances

In the complex and highly regulated business environment, ensuring compliance with statutory requirements under payroll is paramount for any organization. Non-compliance can result in severe penalties, legal complications, and damage to the company’s reputation. As a leading provider of CFO services, we offer comprehensive payroll compliance solutions designed to help your business navigate these complexities efficiently and effectively.

Adherence to Tax Regulations :

1. Income Tax : Ensuring accurate computation and timely deduction of employee income tax (TDS) and filing of returns.
2. Social Security Contributions : Compliance with Provident Fund (PF), Employee State Insurance (ESI), and other social security schemes.

Labor Law Compliance :

1. Minimum Wage Compliance : Adherence to the minimum wage laws as stipulated by the government, ensuring fair compensation to employees.
2. Gratuity and Bonus Payments : Managing compliance with the Payment of Gratuity Act and the Payment of Bonus Act, ensuring timely and accurate disbursement.
3. Leave Entitlements : Ensuring compliance with statutory leave policies such as maternity leave, sick leave, and other statutory leaves.

Employee Welfare Schemes :

1. Compliance with Employee Welfare Funds : Ensuring contributions to various employee welfare funds and schemes like Labour Welfare Fund (LWF).
2. Monitoring and Updating Statutory Changes : Continuous monitoring and updating of any changes in statutory laws to ensure ongoing compliance.

Audit and Assessment Support :

1. Statutory Audits : Assistance in preparing for statutory audits, ensuring all documentation is in order and audit-ready.
2. Assessment Proceedings : Providing support during assessment proceedings and addressing any queries from regulatory authorities.